Forum Thread

Join me on my road to 30K! I'm doing the 26k RobinHood Stock Market Challenge

Meiggs 245 37 July 6, 2016 at 05:52 PM
Deal
Score
+2
3,587 Views

Thread Details

Current portfolio:

NOK – 400 Shares
OREX – 1047 Shares
NUGT – 8 Shares
BCS – 441 Shares
KMI – 30 Shares
F – 1382 Shares
Cash- $1,334.80
Total Value: $26,308.33
Total Investment: $26,000.00
Return on Investment: 1.18%

About the challenge:
I recently gained access to a stock trading service called Robinhood which allows users to make free stock trades with $0 transaction fees. To take advantage of this benefit, I’m starting this “$26k Challenge” thread with the following premise:

I’ll swing trade different stocks, my goal is 30K by the end of summer
Each day, I’ll report here with an update on my picks and overall portfolio progress
I’m hoping this will spark some interesting conversation about Robinhood, about my specific stock picks, general investment strategy, hot topics such as high frequency trading, etc… I’m making this public because I think it will be fun for people to follow along. Please don’t take my updates as advice or suggestions: I’m not a professional investor and this is just an experience for me.

The vast majority of investing professionals would tell you to invest for the long haul and that timing the market and riding the ups and downs is a coin toss at best, unless you’ve got millions of dollars at your disposal. I agree and it’s a strategy to which I largely subscribe. The $0 transaction fees offered by Robinhood do somewhat reduce the barriers that potential low volume day traders face, but I’m not suggesting it’s a strategy you use yourself. Again, I’m doing this for fun.

I may update this first post with more information depending on the interest/response… but here goes nothing.

To keep updated and learn more: http://www.millennialmoneyguide.c...challenge/

13 Comments

1

Sign up for a Slickdeals account to remove this ad.

#2
I think, it's an awesome idea, please do share with your experience and detail information on which stock you purchase, how much gain or lost, and etc.

I'm 90% noob and wish someday I ride it along.
Reply Helpful Comment? 0 0
#3
It looks very interesting.
Like the guy before me I'm also complete newbie. Please share your experience with us.

Cheers
Reply Helpful Comment? 0 0
#4
you would get nice dividend from f and few others
Reply Helpful Comment? 0 0
Joined Dec 2010
Millennial Money Guide
245 Posts
37 Reputation
Original Poster
#5
Update 6/7/2016

Alright… honestly making trades daily is a little exhausting because the market, at least today, was very volatile. It is too easy to get stuck for no good reason. I took profits as the markets rallied this morning and sentiment rose. My account value was at $26,457.76 at one point today. As SPY peaked I went ahead sold all my positions and then did some trading around lunch hours which I could have done without as some trades did not go my way ($DWTI). I have a feeling that the economy may be at its tipping point. I did not want to hold any positions overnight and my account is all cash for now as tomorrow the Labor Department releases the June jobs report at 8:30 am E.T.

Sold:

NOK – 400 Shares
OREX – 1047 Shares
NUGT – 8 Shares
BCS – 441 Shares
KMI – 30 Shares
F – 1382 Shares
Traded today:

NUGT
SPXS
DWTI
DUST
FAZ
Current Portfolio:

Cash: $26,457.76
Total Value: $26,457.76
Total Investment: $26,000.00
Return on Investment: 1.76%
Reply Helpful Comment? 0 1
Best dang site out there!
http://www.millennialmoneyguide.com Cool
Joined Oct 2009
If It's Free, It's for Me
1,482 Posts
351 Reputation
#6
A lot of money can be made with Direxion ETFs given their high leverage. Investing in them more can help you achieve your $30K faster, if you bet right on them of course.
Reply Helpful Comment? 0 0
#7
Quote from Meiggs View Post :
Update 6/7/2016

Alright... honestly making trades daily is a little exhausting because the market, at least today, was very volatile. It is too easy to get stuck for no good reason. I took profits as the markets rallied this morning and sentiment rose. My account value was at $26,457.76 at one point today. As SPY peaked I went ahead sold all my positions and then did some trading around lunch hours which I could have done without as some trades did not go my way ($DWTI). I have a feeling that the economy may be at its tipping point. I did not want to hold any positions overnight and my account is all cash for now as tomorrow the Labor Department releases the June jobs report at 8:30 am E.T.

Sold:

NOK - 400 Shares
OREX - 1047 Shares
NUGT - 8 Shares
BCS - 441 Shares
KMI - 30 Shares
F - 1382 Shares
Traded today:

NUGT
SPXS
DWTI
DUST
FAZ
Current Portfolio:

Cash: $26,457.76
Total Value: $26,457.76
Total Investment: $26,000.00
Return on Investment: 1.76%
How's it going so far?
Reply Helpful Comment? 0 0
#8
Quote from executivedealer View Post :
How's it going so far?
OP's positions are down 7% or more since he posted that update.

This is borderline spam because it his blog (see OP's subnic/undertitle), and if you read the blog he hasn't posted anything else since.

Levered etfs have mathematically proven decay that you cannot beat over the long term. Now a month isn't long term, but there's it's certainly not short-term either. It's a rookie mistake in trading, and I hope he learned his lesson, but I seriously doubt he'll be back.
Reply Helpful Comment? 0 0

Sign up for a Slickdeals account to remove this ad.

#9
I would strongly encourage you to avoid ETFs, if you make a bad prediction you will be stuck either taking a big loss or holding it and letting decay eat your capital.

I would ONLY trade healthy companies and only buy them when they are cheap, then sell them when they go up. Rinse, repeat.

Don't try to get rich overnight, take small profits as it'll add up. Slow and steady wins the race, don't forget that. AVOID ETFS, unless you are very experienced and know what you're doing, they will kill your account.
Reply Helpful Comment? 1 1
#10
Quote from Kane1124 View Post :
I would strongly encourage you to avoid ETFs, if you make a bad prediction you will be stuck either taking a big loss or holding it and letting decay eat your capital.

I would ONLY trade healthy companies and only buy them when they are cheap, then sell them when they go up. Rinse, repeat.

Don't try to get rich overnight, take small profits as it'll add up. Slow and steady wins the race, don't forget that. AVOID ETFS, unless you are very experienced and know what you're doing, they will kill your account.
Lol...everyone, PLEASE do not take this advice. Saying "only buy them when they are cheap, then sell them when they go up" is a ridiculous statement. It's like saying "Go to Vegas, only bet on Red when the next number will be Red, and only hit in blackjack when it won't put you over 21"
Reply Helpful Comment? 1 1
#11
there is also a big difference between an etf and a triple leveraged etf.
Reply Helpful Comment? 0 0
#12
Learned my lesson from ETF. No more ETF for me. I suggest start play with little like 1k. Put more if you are confident after playing with that 1k.
Reply Helpful Comment? 0 1
#13
Quote from tajumper450 View Post :
Lol...everyone, PLEASE do not take this advice. Saying "only buy them when they are cheap, then sell them when they go up" is a ridiculous statement. It's like saying "Go to Vegas, only bet on Red when the next number will be Red, and only hit in blackjack when it won't put you over 21"
There are multiple strategies for trading stocks. This is what is working for me, if you think this isn't a good strategy then don't use it. But, stocks do regularly swing in price channels and being able to identify the value of a stock in relation to it's current price and buying when it is in the lower end of the channel and selling in the upper end of the channel is a known strategy used by many traders.

Your analogy is ridiculous and not even close to describing the strategy I use....Confused
Reply Helpful Comment? 0 0
Joined Nov 2013
万卷古今,一朝昏
2,326 Posts
987 Reputation
Pro
#14
I am holding $YANG now.
Reply Helpful Comment? 0 1
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Copyright 1999 - 2016. Slickdeals, LLC. All Rights Reserved. Copyright / Infringement Policy  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)  •  Interest-Based Ads
Link Copied to Clipboard